1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kari74 [83]
3 years ago
10

a man invests a total of 5000 in a bank account that yields 5% interest compound monthly. how much will it be worth after 6 year

s?
Mathematics
1 answer:
kaheart [24]3 years ago
7 0

Answer:

  6745.09

Step-by-step explanation:

If we assume the nominal annual interest rate is 5%, then the future value after 6 years is ...

  FV = P(1 +r/12)^(12·t)

for P = 5000, r = .05, t = 6.

Doing the arithmetic, we get ...

  FV = 5000(1 +.05/12)^(12·6) ≈ 6745.09

After 6 years, the bank account will be worth 6745.09.

_____

We made a comment about the interest rate, because the annual <em>yield</em> is about 5.116%. If the <em>annual yield</em> is actually 5%, then the account value is lower: $6700.48. (Monthly compounding is irrelevant in that case, because it is already figured into the yield.)

Usually, the wording would be that the account <em>earns</em> 5% interest compounded monthly.

You might be interested in
How many ways can you arange the letters in the word cube
Margarita [4]
You could four times because there are four letters in the word cube, so there are only four possible ways you could spell it.

Hope this helps:)
Plz rate branliest
3 0
3 years ago
Question is in the picture!<br><br> What is the volume of the right rectangular prism?
Alex_Xolod [135]

Answer:250

Step-by-step explanation:

8 0
3 years ago
An opaque bag contains 5 green marbles 3 blue marbles and 2 red marbles. What is the probability of randomly picking out a marbl
anastassius [24]

Answer= .2 probability

Explanation: Since there is a total of 10 marbles, and 2 are red, you would divide the red marbles (2) out of the total marbles (10) which would get u .2. Since it’s asking for probability, we would keep .2 a decimal.

6 0
3 years ago
True or false is a relation in which each y value has only 1 x value
boyakko [2]

Answer:

The statement is true that a function is a relation in which each y value has ONLY 1 x value.

Step-by-step explanation:

The statement is true that a function is a relation in which each y value has ONLY 1 x value.

The reason is very clear that we can not have the repeated x-values (two same x-values).

For example, given the set of the ordered pairs of a relation

{(3, a), (6, b), (6, c)}

As the same x values (x=6) has two different Y values. Hence, the stated relation is not a function.

In order to be a function, a relation must have only 1 x-value for each y-value.

Therefore, the statement is true that a function is a relation in which each y value has ONLY 1 x value.

5 0
3 years ago
The Local animal shelter uses one and 3/5 bags of dog food each day to feed all of its dogs. For how many days will a donation o
horrorfan [7]

Answer: 12 ÷ 1 3/5

The problem is asking us to find how many days food would last. Since the food shelter uses 1 3/5 each day, the 12 bags of food would be split into 1 3/5 they use each day.

4 0
3 years ago
Other questions:
  • What is the coordinate plane graphing slope and linear equation from mcdonald publishing co PLEASE HURRY!!
    11·1 answer
  • What is (a+b) cubed when a=9; b=-4<br><br> Plz help!
    7·1 answer
  • EXPERTS/ACE (and people that know it for sure comment) Brainiest Marked to the first correct answer
    9·1 answer
  • Which equation represents a line that passes through (4,1/3) and has a slope of 3/4? y – 3/4= 1/3(x – 4)
    13·1 answer
  • A school is holding a carnival and hopes to raise $500. Child tickets cost $3 and adult tickets cost $5. If the school sells x c
    15·2 answers
  • Solve the equation: <br> x - 9 = -6 + 5 <br><br> A. 21<br> B. 7<br> C. 14<br> D. 2
    7·2 answers
  • WILL GIVE BRAINLIEST. PLEASE HELP.
    8·1 answer
  • Please help worth 25 points
    9·1 answer
  • "complete the function table. use the given input (x) values and determine the corresponding output (y) values based on the give
    13·1 answer
  • What is the solution of the equation x + 12.23 = 28.659?<br> X =
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!